Our agricultural clients could benefit from the Farming Transition Fund Improving Farm Productivity grant, which Defra indicates will open in the middle part of January.
Farmers and agricultural business owners who are interested in applying should act fast because the scheme is subject to a tight timeframe.
What is the Improving Farm Productivity grant?
This grant is for improving farm and horticulture productivity through:
Successful applications are likely to target the following areas:
How much could I claim?
The minimum grant you can claim is £35,000. The grant value is 40% of the total cost, therefore a minimum spend of £87,500 is required.
The maximum grant available under the Improving Farm Productivity theme is £500,000 per applicant.
The list of eligible items includes:
Farmers can also apply for grants for the following slurry acidification equipment:
How can I apply?
The application is a two-stage process. The first stage is an eligibility checker, which is expected to open in the next week or two and will remain open for eight weeks only.
Those who are successful in stage one will be invited to complete stage two, which is the full application stage.
Stage two will be based around assessing the full benefit of the project. This will include providing information on the expected impact on inputs, output and cashflow, as well as benefits to animal welfare, the environment and profitably.
The full application will then be assessed and scored before the final decision is made. No projects can start prior to a successful agreement being issued and projects can only start after the project start date. This includes no deposits being paid.
How can Thomas Westcott help?
Here at Thomas Westcott, we can give you a full service and support you every step of the way. We’ll help you to explore this investment opportunity so you can decide whether it is right for your business. We can also support you in seeking financing and can complete an application on your behalf. Our Agriculture team can then continue to support you through the project and beyond.